The Senegalese head of state and chairperson of the African Union has called on international partners to help African countries cope with the negative impacts of the war in Ukraine by reallocating special drawing rights. This was last Tuesday in Dakar during a press conference.
On Tuesday evening at the congress hall, he held a press conference with the President of the World Bank Group, David Malpass, who was visiting Senegal as part of the At the 9th World Water Forum, the AU Chairperson called for the establishment of a mechanism to support African economies. Indeed, in the face of spectacular inflation due to the consequences of the war in Ukraine and the Covid-19 pandemic, Macky Sall is asking the leaders of the World Bank and the IMF to support weakened African economies. . “There is real inflation affecting countries. We need a support mechanism when the crisis is this serious,” said the Senegalese president.
And as emergency mechanisms, the Chairperson of the African Union proposes SDRs. A currency that the International Monetary Fund has created and that can be granted to member countries. This is to enable them either to repay obligations to the institution or to adjust their currency reserves. “I stressed the urgency of the African demand for the reallocation of SDRs from rich countries to developing countries, particularly African countries, to support our resilience and economic recovery efforts,” he told David Malpass.
Moreover, for the Senegalese leader, the war in Ukraine has had immediate consequences in terms of rising food prices, in particular wheat, of which Africa remains an obvious importer. It is therefore very urgent to look at the case of emerging economies which, in addition to suffering from terrorism and the covid-19 crisis, must now face severe inflation in the context of the crisis in Europe.
For his part, the President of the World Bank Group, recognises that the consequences of the war in Ukraine on the international situation are major. David Malpass argues that the level of impact and damage on the world is colossal and that “more mechanisms are needed by international institutions”.
At the rate things are going, the leader of the African Union has launched an appeal to the whole world, to all bilateral partners. “We are calling for an end to the war in Ukraine. Everything must be done to stop this conflict,” he said.
As a reminder, last February, The African Union in a communiqué had called on Russia and “any other regional or international actor to imperatively respect international law, territorial integrity and national sovereignty of Ukraine”. The organisation had urged Russia and Ukraine for an immediate ceasefire, and for the opening of negotiations under the protection of the United Nations.
